The question "How much information is enough?" for managerial purposes should be answered on
A)a cost/benefit basis.
B)a cost,but not benefit,basis.
C)a benefit,but not cost,basis.
D)neither costs nor benefits,but some other criteria.

Question

Quizplus · Accepted Answer

The optimal amount of information needed for managerial purposes should be assessed on a cost/benefit basis. Managers must determine the cost of collecting, processing, and analyzing information and measure it against the potential benefits that will result in making better decisions. By using a cost/benefit analysis, managers can determine how much information they need while ensuring the costs of obtaining it do not outweigh its benefits.

The Question "How Much Information Is Enough?" for Managerial Purposes